ID #1511

How to send zero value Tax in Tally for Vat Computation and Vat Return?

Answer:

In order to send zero value Tax in tally to reflect in Vat Computation & Vat Return Report, use the steps given below…

You have to create a Journal entry in Tally.

  1. In Tally we have to create a Journal Voucher Type with Class say Vat                 
  2. Adjustment with ‘Use for Vat Adjustment = Yes’
  3. Create a Ledger ‘Sale Exempt’ under ‘Sales Account’ with ‘Use in Vat Return = Yes’
  4. At month end find the Assessable Value for ‘NONE’ Tax from FusionRetail™ 6
  5. Make a Journal entry for that amount as…

Sales a/c Dr
To Sale Exempt A/c Cr
With vat class Sale Exempt.

Tags: Tally related

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